Perennial Investment Advisors LLC Buys Shares of 3,058 PPG Industries, Inc. (NYSE:PPG)

Perennial Investment Advisors LLC purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,058 shares of the specialty chemicals company’s stock, valued at approximately $365,000.

Other large investors also recently modified their holdings of the company. Legend Financial Advisors Inc. acquired a new position in PPG Industries in the 4th quarter worth about $27,000. Prudent Man Investment Management Inc. acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $36,000. Albion Financial Group UT bought a new position in PPG Industries in the 4th quarter valued at approximately $38,000. Crews Bank & Trust bought a new position in PPG Industries in the 4th quarter valued at approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $44,000. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PPG. Wells Fargo & Company dropped their price target on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday. Royal Bank of Canada lowered their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $137.77.

PPG Industries Stock Down 4.8 %

PPG Industries stock opened at $98.98 on Monday. The company has a market capitalization of $22.47 billion, a PE ratio of 20.93, a PEG ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a 12-month low of $97.49 and a 12-month high of $142.30. The firm’s fifty day moving average is $113.74 and its 200 day moving average is $120.44. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.